I'm sure Google is quietly laughing as they watch Facebook's stock drop further down the drain.
"People are disillusioned," Matt McCormick, who helps oversee $6.2 billion at Bahl & Gaynor Inc. in Cincinnati, said in a telephone interview. He doesn't own shares of Facebook. "A lot of investors believed the hype," he said. "In this type of volatile market environment, people are not going to take chances."
Facebook shares climbed as high as $45 on May 18, when the shares ended the day with a price-earnings ratio of 83.1, making the Menlo Park, California-based company more expensive than 99 percent of Standard & Poor's 500 Index stocks. The company went public as the equity index was heading for its biggest monthly decline since September.
|"The average person, Hershey said, was simply too poor to keep buying its products, and so allow the company to grow."|
|Credit Card Data Can Be Easily Stolen With a Smartphone|
|How Much it Costs to Be Batman|
|''People normally have only a certain amount of 'debt capacity'.''|
|"Multinational companies and wealthy elites are playing by different rules to everyone else."|
|3D Printed $10,000 House|
|“Facebook played a 'determining role' in stirring up hatred against Rohingya Muslims.”|
|Future Horizon's Plasma Lightsabers|
|“The Pentagon’s relatively quiet tip-toe into converting the U.S. Armed Forces to a machine-majority force.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|“New green policies so hard-hitting and extensive they can be felt across the world.”|
|CaptchaTweet: Write Tweets in Captcha Form|
|“Amazon Paid No Federal Taxes In 2017.”|
|“Traditional path to economic growth may close to all but a handful of developing countries.”|
|“Contains all the same components as cow’s milk, [...] but doesn’t use any animals in its production process.”|
|“Clearly, no one is going to build weapons that have sufficient general intelligence to, for example, decide and execute a plan to take over the world.”|
|The (Very Scary) People of Public Transit|